CBE Governor Participates in 4th G20 Finance Ministers, Central Bank Governors MeetingSource: www.export-egypt.com 10/26/2024, Location: Africa |
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Governor of the Central Bank of Egypt (CBE) Hassan Abdullah participated in the 4th G20 Finance Ministers and Central Bank Governors Meeting, which took place over two days on October 23 and 24, on the sidelines of the annual meetings of the Board of Governors of the International Monetary Fund (IMF) and the World Bank (WB), which are being held from October 21 to 26, 2024, in Washington, DC.
During his participation in the meetings, Abdullah highlighted the importance of the G20's role in developing the global financial architecture and enhancing the capabilities of international financial institutions to keep pace with growing financing needs. He noted the importance of multilateral development banks working as a single system to support the implementation of local development strategies. The governor pointed to the possibility of enhancing financial inclusion by unifying standards, simplifying transactions, and enhancing digital financial services and cross-border payments. The meetings addressed many important issues at the global level, such as the global economy in light of geopolitical risks and developments, promoting sustainable growth, and developing multilateral development institutions. The meetings also discussed mechanisms for establishing a more stable and flexible international financial structure that helps achieve sustainable growth in line with the goals of the 2030 Sustainable Development Plan, in addition to assessing developments in the field of digital technology and artificial intelligence and their impact on the global financial system. It is worth noting that the participation of Egypt in the meetings comes at the invitation of the Brazilian government, as Brazil chairs the G20 during the year extending from December 1, 2023 to 30 November 2024. This is the fourth Egyptian participation in the G20 meetings since the establishment of the group, and the second in a row, as Egypt participated in the group's meetings for the last session, during India's presidency. |
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